Answer:
The rate of tax is 0.9% of the actual business amount.
Explanation:
Given that:
Tax amount = $1035
Business value = $115,000
So, for finding the rate, we will have to divide the tax amount by business value and multiply it by 100 as follows:
Rate = 1035/115,000 * 100
By simplifying we get:
Rate = 0.009 *100
Rate = 0.9 %
This means that the tax rate is 0.9% of the original amount.
i hope it will help you!